1. Hike in LPG prices:

Oil marketing companies have increased the price of 19 kg commercial LPG cylinder. Its price in Delhi is now Rs 1740, which was earlier Rs 1691.50. Similar changes have been made in Mumbai, Kolkata and Chennai. However, there is no change in the price of domestic LPG cylinder.

2. ATF price cut:

Aviation Turbine Fuel (ATF) prices have been cut. Now its price in Delhi has become Rs 87,597.22 per kilolitre, which was earlier Rs 93,480.22. This is likely to provide some relief to flight services.

3. HDFC Bank Credit Card Rules Changed:

HDFC Bank has made changes to the loyalty program for some of its credit cards. Now the redemption of reward points for Apple products on the SmartBuy platform has been limited to one product in a quarter.

4. Changes in Sukanya Samriddhi Yojana:

Under Sukanya Samriddhi Yojana, now only the legal guardians of daughters can operate this account. If a daughter’s account is opened by an illegal guardian, then it will have to be transferred to the natural parents or legal guardian, otherwise the account may be closed.

5. New rules related to PPF account:

There have been three major changes in the PPF account. If you have more than one PPF account, they will have to be merged. Changes have also been made in the rules related to minor and NRI accounts, which have been implemented from today.

6. Changes in taxation of share buyback:

Now the tax on share buyback will be levied on shareholders, which was earlier applicable on companies. This will be similar to dividend taxation, due to which shareholders may have to pay more tax.

7. Rules related to Aadhaar card:

Now Aadhaar enrollment ID cannot be mentioned in PAN application form and income tax return. Instead it will be mandatory to use Aadhaar number.

8. New rules related to income tax:

Some of the income tax changes announced in Budget 2024 have come into effect from today. These include reduction in TDS rates. Now the TDS rates on some payments have been reduced from 5% to 2%. Apart from this, pending tax cases will be settled under the Direct Tax Dispute to Vishwas Scheme 2024.

9. PNB Credit Card Rules:

Punjab National Bank has changed several charges related to credit card service, such as maintaining minimum average balance and check return charges. These new charges have come into effect from today.

10. STT increased on F&O trading:

Security Transaction Tax (STT) has been increased on Futures and Options (F&O) trading. STT on sale of option has been increased from 0.0625% to 0.1% of the premium.

Related Articles:-

7th Pay Commission: Central employees’ salary will increase this much during Navratri, check the complete calculation

Liquor shops will remain closed for these many days in October and November, see details

US Embassy to provide 2.5 lakh additional visa appointments to Indian travellers

The post New Rules From Today: All about key rules to be changed from 1 October, Aadhaar, PPF, SSY, LPG, STT on F&O, income tax rules first appeared on Rightsofemployees.com.

Rule Change From 1st October: New month, new rules! The month of October is going to bring many important changes for you. Many new rules are going to be implemented in this month which can directly affect your daily life. These include changes in the rules for LPG, bank holidays and mobile users. Apart from this, Union Finance Minister Nirmala Sitharaman had announced changes in many rules related to income tax in the Union Budget 2024. Some of these changes have already been implemented, while some are going to be implemented from October 1, 2024.

These changes include Aadhar Card, STT, TDS Rate and Direct Tax Dispute to Vishwas Scheme 2024. Here we are going to tell you about all the new rules which are going to be implemented from October 1.

1. New prices of LPG cylinders will be released (LPG Prices)

Government oil companies change the prices of LPG cylinders on the first of every month. Therefore, you can see the change in cylinder prices on the morning of October 1, 2024. New prices are usually released at 6 am. Recently, the prices of 19 kg commercial gas cylinders have been fluctuating, but the prices of 14 kg domestic cylinders have been stable for some time.

2. TRAI will implement new rules for mobile users

TRAI (Telecom Regulatory Authority of India) is going to implement new rules from October 1, which will benefit mobile users. Now users will be able to get information about the network available in their area and spam calls will be reduced. TRAI has instructed telecom companies Jio, Airtel, Vodafone and BSNL to make a list of spam calls and send only secure URL or OTP link in the message. These steps will help prevent online fraud and scams. Earlier these rules were to be implemented from September 1, but it was extended by one month by TRAI.

3. 15 days bank holidays in October (October Bank Holiday)

According to the information given on the official website of the Reserve Bank of India (RBI), there will be a total of 15 bank holidays in October (Bank Holidays in October 2024). This includes Gandhi Jayanti and Durga Puja as well as weekly holidays in banks. Let us tell you that there are bank holidays on two Saturdays and four Sundays in this month.

4. These accounts linked to Sukanya Samriddhi Yojana will be closed!

New rules regarding investment in Sukanya Samriddhi Yojana are going to be implemented from October 1. According to the new rules, such accounts which are not opened by the girl’s parents or legal guardian, will now have to be compulsorily transferred to the name of the parents or their legal guardian as per the new guidelines. According to the new rules. Only legal guardians or natural parents can open and close accounts under Sukanya Samriddhi scheme. Under this, if more than two accounts are opened, then other additional accounts (Sukanya Samriddhi account) will be closed.

5. Securities transaction tax

Securities transaction tax on futures and options (F&O) trading has been increased by 0.02 per cent and 0.1 per cent respectively. Apart from this, income from share buyback will be taxed according to the taxable income of the beneficiary. This change will be implemented from October 1, 2024. Pay special attention to the fact that STT is levied on both purchase and sale of various securities including equity shares, futures and options. The government’s objective behind this change is to reduce speculative activity in the rapidly growing derivatives market.

6. There will be a change in the rules related to PAN-Aadhaar (Aadhaar and PAN Card)

The Union Budget 2024 proposes to remove the provision that allows mentioning of Aadhaar enrolment ID instead of Aadhaar number. The purpose of this rule is to prevent misuse and duplication of PAN. From October 1, 2024, no one will be able to mention their Aadhaar enrolment ID in the application form for PAN allotment and in their income tax returns.

7. Tax on buy-back of shares

From October 1, shareholder level tax will be applicable on buyback of shares just like dividend. Apart from this, the acquisition costs of these shares will be taken into account while calculating any capital gain or loss. This change will increase the tax burden on shareholders who choose the buyback option, because now direct tax will be levied on capital gains.

8. Tax will be levied on floating rate bonds (Floating rate bonds TDS)

It was announced in Budget 2024 that TDS will be deducted at the rate of 10% from certain specific bonds of the central and state government including floating rate bonds from October 1, 2024. However, no TDS will be deducted if the income in a year is less than Rs 10 thousand.

9. TDS rate changes

TDS rates have been reduced for payments under sections 19DA, 194H, 194-IB and 194M. Now the TDS rate for these sections has been reduced from 5% to 2%. At the same time, the TDS rate for e-commerce operators has been reduced from 1% to 0.1%.

• Section 194DA – Payment for life insurance policy
• Section 194G – Commission on sale of lottery tickets
• Section 194H – Commission or brokerage
• Section 194-IB – Payment of rent by certain individuals or HUF
• Section 194M- Payment of certain sums by certain individuals or HUF
• Section 194F – Section 194F, which focuses on repurchase of mutual fund units or UTI-related payments, is proposed to be removed from October 1, 2024.

10. Direct Tax Dispute Se Vishwas Scheme (Direct Tax Dispute Se Vishwas Scheme 2024)

The Central Board of Direct Taxes (CBDT) has announced the Direct Tax Vivaad se Vishwas Scheme, 2024 (also known as DTVSV, 2024) for settlement of pending appeals in income tax dispute cases. This scheme will be implemented from October 1, 2024.

The post New Rules 2024: These 10 big changes will happen across the country from October 1, know the new rules first appeared on Rightsofemployees.com.

In the Union Budget presented on 23 July this year, the government announced many new rules. Most of these are related to income tax. These rules are going to be implemented from next month i.e. October 1. Knowing about them in advance will not cause you any problem. Let us know about them in detail.

Higher STT on F&O trades

Securities Transaction Tax ( STT ) on Futures and Options ( F&O ) trades will increase from October 1. This was announced by Finance Minister Nirmala Sitharaman in the Union Budget on July 23. The government has decided to increase STT to curb the participation of retail investors in F&O trading. STT is a tax that is levied on buying and selling securities. Securities include shares, futures and options. STT on options premium will increase to 0.1 percent. STT on futures will increase to 0.02 percent of the trade price.

TDS on interest from government bonds

From October 1, 10 percent TDS will be applicable on the interest of certain bonds of the central and state governments. These will also include floating rate bonds. This was announced by the government in the Union Budget this year. Till now, government bonds were outside the scope of TDS. Experts say that government bonds coming under the scope of TDS will affect their returns. However, there is a limit of Rs 10,000 for TDS. This means that if the amount of interest from government bonds in a year is less than Rs 10,000, then it will not come under the scope of TDS.

New tax rules on share buyback

The new tax rules on share buyback will come into effect from October 1. Now investors participating in share buyback will have to pay tax on capital gains. Earlier, investors did not have to pay tax on capital gains on participating in share buyback. Experts say that this may affect the participation of investors in the share buyback program.

New rules of Aadhar

From October 1, the use of Aadhaar enrolment IT will not be allowed for applying for Permanent Account Number (PAN) or filing income tax returns. The government has taken this decision to prevent cases of misuse of PAN.

Direct Dispute to Trust Scheme 2024

The Income Tax Department’s Direct Dispute to Vishwas Scheme 2024 will open from the 1st of next month. Under this scheme, taxpayers will get the facility to settle pending tax cases by paying less penalty and less interest. Taxpayers whose tax cases are pending in the Appellate Authorities, High Court or Supreme Court till July 22, 2024 will be able to avail the benefit of this scheme.

Related Articles:-

Toll Price Hike: Yamuna expressway toll prices hikes from 1 October , Check new toll rate

Rainfall red alert! IMD Department has issued a yellow alert for heavy rain in 24 districts of this state

You can make your Ayushman card yourself at home, you just need this one document

The post New Rule From 1st Oct: These 5 new rules related to income tax including TDS, STT will be implemented from October 1 first appeared on Rightsofemployees.com.